(48)

LAW AFFECTING CURRENCY.

1. Ordinance No. 6 of 1865, sections 13 and 20.—This Ordinance relates to the offence of forging Bank Notes. 2. Ordinance No. 10 of 1865.—Offences against Coinage, but sections 4, 5, 16, 17, 26 and 27 not in force by Proclamation in Gazette of 21st October, 1865, under the Ordinance.

1. Ordinance re Chopping Dollars.

1. Order in Council of 2nd February, 1895, published in Government Gazette Extraordinary of 30th March, 1895, declares that Mexican Dollars, Hongkong Dollars and British Dollars or other Silver Dollars of equivalent value duly authorised by the Governor of Hongkong shall be the only legal tender, and provides that Silver Coins representing some multiple of the cent or one-hundredth part of the said Dollars shall be a legal tender for any sum not exceeding Two Dollars, and that Copper or Bronze Coius representing the cent or one-hundredth part, or the mil or cash representing one-thousandth part of the Dollar shall be a legal tender for any sum not exceeding One Dollar.

The above Currency consists of the following Coins, viz.:-

1. The Silver Dollar of Mexico.

1. The Hongkong Dollar and Half-Dollar issued from Her Majesty's Mint, at Hongkong.

1. The British Dollar.

1. Silver Coins issued from Her Majesty's Mint, representing-

(i) One-half of the said Dollar commonly called Fifty-Cent Piece;

(ii) One-fifth part of the said Dollar, commonly called Twenty-Cent Piece; (iii) One-tenth part of the said Dollar, commonly called Ten-Cent Piece; and (iv) One-twentieth part of the said Dollar, commonly called Five-Cent Piece.

1. Copper or Bronze Coins, also issued from Her Majesty's Mint, representing-

(i) One-hundredth part of the said Dollar, and commonly called One Cent; and (ii) One-thousandth part of the said Dollar, and commonly called Mil or Cash.

The Army rate of exchange for issue of Silver Dollars to Her Majesty's troops is now fixed quarterly by the Imperial Treasury.

The rate for first quarter of 1897 was 22, for second quarter 2/1, for third quarter 2/1, and for fourth quarter 1/11 per Dollar.

AMOUNT OF COIN IN CIRCULATION

Approximate amount of Hongkong Dollars and Half-Dollars struck at the Hongkong Mint,...$1,421,487.00 Approximate amount of Hongkong Silver and Copper Subsidiary Coins (50, 20, 10 and 5-$18,435,125.00 Cent pieces; and 1-Cent and Mil pieces) put into circulation up to 31st December, 1897,

It is impossible to state how many of the above Coins, und of Coins of other denominations are in circulation, but the probability is that of the Hongkong Silver Coins there is not 2 per cent. of the total issue at the present time within the Colony. The importation of Copper Coin has been discontinued.